Swiss private bank, Bank Sarasin has hired between 15 and 20 private client advisors from Credit Suisse for its Basel operation.

Sarasin was not currently able to provide details of the names or when they are due to join.

The hires are part of chief executive officer Joachim Straehle’s, target to increase the numbers of client advisors at the Swiss private bank from 295 to 400 by the end of the year.

Mr Straehle has said that 90 per cent of those required to meet the target have already been found.

Last month it was announced that Werner Rueegg will take over as head of Bank Sarasin’s business unit Private Banking Basel from 1 January 2009, succeeding Thomas Vonaesch, who will concentrate on looking after selected clients based in Basel.

Mr Rueegg will join Bank Sarasin on 1 September 2008, also from Credit Suisse, where he was most recently regional manager for Northwest Switzerland and head of the Private Banking unit for that region.

But the traffic has not all been one way. Clariden Leu, the Zurich-based private bank owned by Credit Suisse, appointed a team of six relationship managers and one assistant for its Basel office from Bank Sarasin. This team, which is joining towards the end of the year, is headed by Andreas Schwendeler, who will take over as head of the unit.

Credit Suisse declined to comment.